Nokia to Cede Top Mobile Spot to Samsung, But CEO Upbeat

By Tiernan Ray

Nokia’s CEO Stephen Elop tells CNet he is “certainly pleased” with sales of the company’s Lumia 920 since it went on sale last month.

Research firm IHS iSupplitoday issues their projection for full-year 2012 mobile phone sales, which indicate Samsung Electronics (005930KS) will take over the top spot in cell phone sales this year, with 29% market share of unit shipments, up from 24% a year earlier, toppling Nokia (NOK), whose share will likely fall to 24% from 30%, the firm projects.
It will be the first time Nokia will lose the crown since 1998, and the first time ever Samsung will hold the crown, iSuppli notes.

Apple (AAPL) is expected to have 10% of global mobile phone sales, up from 7% a year ago.

iSuppli researcher Wayne Lam puts the change down to the fact that smartphones are the dominant segment of the market and are now 47% of all sales, up from 35% last year.

Despite that gloomy report, Nokia shares today are up 25 cents, or almost 7%, at $4.20, amidst some upbeat remarks from the company.

CEO Stephen Elop tells CNet’s Roger Chengin an interview today that he is “certainly pleased” with how the company’s recently released “Lumia 920,“running Microsoft‘s (MSFT) Windows Phone, is selling, despite “frustration due to limited supply.”

Elop also teased, “We are planning a lot of exciting things with Verizon [Communications (VZ)] as well.”

Add a Comment

We welcome thoughtful comments from readers. Please comply with our guidelines. Our blogs do not require the use of your real name.

Comment

There are 3 comments

DECEMBER 18, 2012 12:33 P.M.

axl wrote:

What does CEO Stephen Elop think about Nokia losing their top spot for 2012 mobile phone sales to Samsung as they continue to lose market share?

DECEMBER 18, 2012 1:25 P.M.

technomonster wrote:

Ray,
amazing it was only a few short months ago that all of your and Eric Savitz's (from Forbes) articles were constantly talking about how Nokia was going bankrupt. From $1.65 to $4.20. Amazing huh? When do you think Goldman Sachs and Morgan Stanley will start to pump the shares? I only ask because they took MASSIVE positions in Nokia in the low $2 range. FYI, once you and the big houses start pumping Nokia, I will sell my shares.

DECEMBER 18, 2012 6:11 P.M.

Nick wrote:

Nokia is definitely on to something with the Lumia 920. I've had mine sine launch day, and I love it. WP8 is slick and snappy. The build quality is excellent. Call. quality (yes, some people still use their phones talk) is superb. The camera is great. The bottom line is, the market should reward this excellent product, and I believe it will.

About Tech Trader Daily

Tech Trader Daily is a blog on technology investing written by Barron’s veteran Tiernan Ray. The blog provides news, analysis and original reporting on events important to investors in software, hardware, the Internet, telecommunications and related fields. Comments and tips can be sent to: techtraderdaily@barrons.com.